Ameriprise Financial Inc. boosted its position in ServiceSource International Inc. (NASDAQ:SREV) by 7.1% during the second quarter, Holdings Channel reports. The fund owned 984,743 shares of the company’s stock after buying an additional 65,312 shares during the period. Ameriprise Financial Inc. owned 1.15% of ServiceSource International worth $3,968,000 at the end of the most recent reporting period.
Several other institutional investors have also recently bought and sold shares of SREV. Metropolitan Life Insurance Co. NY boosted its position in ServiceSource International by 7.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 45,666 shares of the company’s stock worth $195,000 after buying an additional 3,139 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of ServiceSource International during the second quarter valued at $357,000. Oxford Asset Management boosted its stake in shares of ServiceSource International by 155.1% in the second quarter. Oxford Asset Management now owns 123,267 shares of the company’s stock valued at $497,000 after buying an additional 74,937 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of ServiceSource International by 2.6% in the second quarter. California State Teachers Retirement System now owns 127,974 shares of the company’s stock valued at $516,000 after buying an additional 3,197 shares in the last quarter. Finally, Regis Management CO LLC bought a new stake in shares of ServiceSource International during the second quarter valued at $940,000. Hedge funds and other institutional investors own 74.77% of the company’s stock.
ServiceSource International Inc. (NASDAQ:SREV) traded up 0.21% on Wednesday, reaching $4.83. The company’s stock had a trading volume of 3,132 shares. The company’s market capitalization is $414.43 million. The firm has a 50-day moving average of $4.86 and a 200-day moving average of $4.38. ServiceSource International Inc. has a one year low of $3.35 and a one year high of $5.75.
ServiceSource International (NASDAQ:SREV) last issued its earnings results on Monday, August 8th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. ServiceSource International had a negative return on equity of 7.50% and a negative net margin of 12.68%. The firm had revenue of $62 million for the quarter, compared to analysts’ expectations of $60.33 million. During the same period in the previous year, the firm posted ($0.02) earnings per share. The business’s revenue was up .6% compared to the same quarter last year. Analysts predict that ServiceSource International Inc. will post ($0.01) EPS for the current year.
Several equities research analysts recently weighed in on SREV shares. Zacks Investment Research cut ServiceSource International from a “buy” rating to a “hold” rating in a report on Wednesday, October 12th. JMP Securities increased their target price on ServiceSource International from $7.00 to $8.00 and gave the company a “market outperform” rating in a report on Wednesday, August 24th. Finally, TheStreet upgraded ServiceSource International from a “sell” rating to a “hold” rating in a report on Wednesday, September 7th.
About ServiceSource International
ServiceSource International, Inc (ServiceSource) is a provider of customer and revenue lifecycle solutions that improve enterprise revenue relationships. The Company operates through two segments: Managed Services, and Cloud and Business Intelligence (CBI). Based on the science of Revenue Lifecycle Management (RLM), the Company provides business to business (B2B) companies with technology-enabled services and solutions that allow growing and retaining revenue from existing customers, directly or through a channel.
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